International Montoro Resources Inc (CVE:IMT) (OTCPINK:IMTFF) had added another 2,650 hectares of land to its Victoria Lake project in Newfoundland, it announced Tuesday.
The acquisition brings the Vancouver-based company’s total landholdings in the province to 10,650 hectares along the Exploits Subzone, which covers a large, prospective structural zone near the Valentine Lake shear zone.
Valentine Lake is home to Marathon Gold’s Valentine Gold project, which boasts resources of nearly four million ounces of gold.
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In a statement, International Montoro Resources said it staked the new claims after going through detailed structural analysis of data from airborne magnetic surveys in the area. According to the explorer, the studies showed an “extremely complex” structural framework and a complex fault pattern that is geologically similar to the prolific Abitibi region of Ontario and Quebec.
International Montoro's Victoria Lake gold project and newly acquired claims
The new claims are six kilometres west of the Leprechaun gold deposit and 14 kilometres southwest of the Marathon gold deposit.
"We are extremely encouraged with these preliminary structural studies, as we have identified at least 3 generations of complex folds, which we think, past explorers did not recognize,” International Montoro CEO Karim Rayani said in a statement Tuesday.
“Of considerable interest to us is the fact that known gold occurrences within this immediate area are coincident with significant, interpreted fold hinge zones, and the majority of these newly identified structures have never been explored.”
Rayani added that Montoro now controls 10,650 hectares along the Exploits Subzone, making the company one of the larger land holders next door to the Valentine Lake Gold Camp held by Marathon Gold.
International Montoro will start a detailed litho-structural study of the Victoria Lake claim area using magnetics, publicly-available geological data and the current 1km-long gold-in-soil anomaly to vector an upcoming mapping and soil sampling program.
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